Khalifa Fund Chairman lays the foundation stone of Mohamed bin Zayed Centre for Innovation and Entrepreneurship in Senegal
The chairman of Khalifa Fund for Enterprise Development (KFED), Hussain Jasim Al Nowais, has laid the foundation stone for Mohamed bin Zayed Centre for Innovation and Entrepreneurship. The new facility will be constructed at Dakar, the capital of Senegal, and will be working as a hub for promoting entrepreneurship and innovation among local businesses, SMEs.
The ceremony was attended by Amadou Hott, the Senegalese Minister of Economy, Planning and International Cooperation; Papa Amadou Sarr, General Delegate of Rapid Entrepreneurship for Youth and Women; and Mohammed Ali Al Shamsi, Charge d’Affaires at the UAE Embassy in Dakar. Other representatives from both the countries were present in the event.
Al Nowais has revealed that the new facility will have a capital of US$290 million (Dhs73.6 million) to fund a series of initiatives and programmes that will aim to promote SME development and innovation in Senegal, as well as the rest of West African region. It will turn out to be a helping hand to the government to create a balanced and stable economy.
The Mohamed bin Zayed Centre for Innovation and Entrepreneurship will feature a business incubator focusing on technology, along with a business accelerator, specialized laboratories and related offices. “The UAE’s wise leadership remains fully committed in supporting the efforts to achieve sustainable development of Senegal and West African countries and to strengthen government efforts that promote entrepreneurship, encourage innovation, empower women and support young people to contribute in creating a state of sustainable development that is reflected on the future generations of Senegal and these other countries,” Al Nowais told Gulf Today.
According to Amadou Hott, the Senegalese Minister of Economy, Planning and International Cooperation, the centre is indeed an important milestone in the country’s efforts towards advanced economic development that integrates women and youth. He also expressed his gratitude towards the UAE government.
The construction of the facility is going to start in September, covering an area of 20,000 square metres. The scheduled opening time is February 2021.